Common use of 1Compensation Clause in Contracts

1Compensation. During the Pre-Construction Phase, Owner will pay the Pre-Construction Sum in the amount stated in Section 6 of the Form of Contract. During the Construction Phase, Owner will pay Trade Contractor and General Requirements Costs, General Conditions Costs, the Change Order Sum for each Change Order, and Contingency Costs (collectively, “Allowable Costs”), plus the Construction Phase Fee as each are defined and limited in this Section 4, but in no event shall Owner be obligated to pay more than (i) before execution of the GMP Change Order, the CCO Maximum Price for any CCO Work or (ii) after Owner’s execution of the GMP Change Order, the Guaranteed Maximum Price. CM/GC’s compensation for each CCO Cost Category or GMP Cost Category shall be limited to the respective amount stated in the applicable Component Change Order or GMP Change Order.